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Continental Sees Second-Half U.K. Car Demand Drop on Brexit

  • Company expects 2% rise in Europe car production in 2016
  • LMC Automotive forecasts 15% U.K. auto sales decline by 2018
Bloomberg business news

Will Post-Brexit Car Demand Impact Continental Sales?

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Continental AG said U.K. car sales will probably drop in the second half due to the vote to leave the European Union, as consumers shy away from making purchases in an uncertain economic environment.

The continent’s second-biggest parts-maker predicted a second-half slowdown in European car production, saying growth will decline to 2 percent in the full year from about a 4 percent increase in the first half. The demand deceleration will affect the U.K. in particular, Continental said Wednesday.